In this assignment, you will research and provide pricing examples that compare and contrast various factors that influence promotional strategies for each of the five pricing strategies: premium pricing, penetration pricing, economy pricing, psychological pricing, and promotional pricing.

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In Unit V, you selected your favorite brand and described the reasons why this brand is so appealing to you. For this assignment, you will use your favorite brand to create an analysis that identifies the strategic direction of price and promotion.

In this assignment, you will research and provide pricing examples that compare and contrast various factors that influence promotional strategies for each of the five pricing strategies: premium pricing, penetration pricing, economy pricing, psychological pricing, and promotional pricing.
Next, you will determine which pricing strategy is represented by your brand’s price and discuss why (or why not) the pricing strategy is effective.
Finally, you will discuss if the pricing strategy is aligned with the messaging strategy in the promotions. For example, if the pricing strategy is premium pricing, do the promotions communicate the high value of the brand?

You must reference at least two articles from business-related or news websites. All paraphrased and quoted material must be cited and referenced. You will create a four-page Word document, not counting the title and reference pages.

BBA 3201, Principles of Marketing 1

Course Learning Outcomes for Unit VI Upon completion of this unit, students should be able to:

5. Examine an organization’s pricing strategies. 5.1 Research examples of premium pricing, penetration pricing, economy pricing, psychological

pricing, and promotional pricing. 5.2 Discuss the effectiveness of select pricing strategies.

7. Explore factors that influence promotional strategies.

7.1 Compare and contrast factors that influence promotional strategies for each of the five pricing strategies.

7.2 Discuss pricing strategy alignment with the messaging strategy in promotions.

Course/Unit Learning Outcomes

Learning Activity

5.1

Unit Lesson Article: “Pricing Strategies and Policies” Video: Starting a Salon: The Startup Experience Video: Modern Marvels: Supermarket Video: The Four P’s, Part 1: Product and Pricing Video: The Four P’s: Marketing Strategies Video: Managing Your Business: Prices, Finances, and Staffing Video: Inside American Airlines Unit VI Research Project

5.2

7.1

7.2

UNIT VI STUDY GUIDE

Pricing Strategy

BBA 3201, Principles of Marketing 2

UNIT x STUDY GUIDE

Title

Reading Assignment In order to access the following resources, click the links below. Note: The transcript for each video is available to view and/or print by clicking on the “Show Transcript” tab on the right side of the video page. You are only required to view the following portion of the video below: Segment 28 titled “Pricing” (2:27 in length). Business2Learn (Producer). (2011). Starting a salon: The startup experience [Video file]. Retrieved from

https://libraryresources.columbiasouthern.edu/login?auth=CAS&url=http://fod.infobase.com/PortalPla ylists.aspx?wID=273866&xtid=47846&loid=139611

You are only required to view the following portion of the video below: Segment 12 titled “Supermarket Pricing Stretegies” (2:01 in length). Cambou, D. (Executive Producer), & Jones, R. (Writer & Producer). (2006). Modern marvels: Supermarket

[Video file]. Retrieved from https://libraryresources.columbiasouthern.edu/login?auth=CAS&url=http://fod.infobase.com/PortalPla ylists.aspx?wID=273866&xtid=42910&loid=103061

You are only required to view the following portions of the video below: Segments 2 titled “The Second P: Pricing” (3:03 in length) and 3 titled “Price Elasticity and Pricing Strategies” (5:19 in length). Hopewell, L. D. (Producer), & Deege, R. (Director). (1998). The four P’s, part 1: Product and pricing [Video

file]. Retrieved from https://libraryresources.columbiasouthern.edu/login?auth=CAS&url=http://fod.infobase.com/PortalPla ylists.aspx?wID=273866&xtid=10142

You are only required to view the following portion of the video below: Segment 5 titled “Pricing Strategies”

(2:02 in length). Pearce, M. (Director). (2009). The four P’s: Marketing strategies [Video file]. Retrieved from

https://libraryresources.columbiasouthern.edu/login?auth=CAS&url=http://fod.infobase.com/PortalPla ylists.aspx?wID=273866&xtid=41111&loid=88030

You are only required to view the following portion of the video below: Segment 2 titled “Pricing the Product or Service” (4:25 in length). Walko, D. S., Kloza, B. (Executive Producers), & Dimoff, D. (Director). (2011). Managing your business:

Prices, finances, and staffing [Video file]. Retrieved from https://libraryresources.columbiasouthern.edu/login?auth=CAS&url=http://fod.infobase.com/PortalPla ylists.aspx?wID=273866&xtid=42251&loid=116112

You are only required to view the following portion of the video below: Segment 10 titled “Airline Ticket Pricing” (4:33 in length). Weitzner, M., & Greenberg, P. (Producers). (2006). Inside American Airlines [Video file]. Retrieved from

https://libraryresources.columbiasouthern.edu/login?auth=CAS&url=http://fod.infobase.com/PortalPla ylists.aspx?wID=273866&xtid=39098&loid=58240

Additional Reading Assignment: In order to access the following resource, click the link below. Monger, B. (2012). Pricing strategies and policies. Retrieved from

https://smartamarketing.wordpress.com/2012/04/05/pricing-strategies-and-policies/ https://libraryresources.columbiasouthern.edu/login?auth=CAS&url=http://fod.infobase.com/PortalPlaylists.aspx?wID=273866&xtid=47846&loid=139611https://libraryresources.columbiasouthern.edu/login?auth=CAS&url=http://fod.infobase.com/PortalPlaylists.aspx?wID=273866&xtid=47846&loid=139611https://libraryresources.columbiasouthern.edu/login?auth=CAS&url=http://fod.infobase.com/PortalPlaylists.aspx?wID=273866&xtid=42910&loid=103061https://libraryresources.columbiasouthern.edu/login?auth=CAS&url=http://fod.infobase.com/PortalPlaylists.aspx?wID=273866&xtid=42910&loid=103061https://libraryresources.columbiasouthern.edu/login?auth=CAS&url=http://fod.infobase.com/PortalPlaylists.aspx?wID=273866&xtid=10142https://libraryresources.columbiasouthern.edu/login?auth=CAS&url=http://fod.infobase.com/PortalPlaylists.aspx?wID=273866&xtid=10142https://libraryresources.columbiasouthern.edu/login?auth=CAS&url=http://fod.infobase.com/PortalPlaylists.aspx?wID=273866&xtid=41111&loid=88030https://libraryresources.columbiasouthern.edu/login?auth=CAS&url=http://fod.infobase.com/PortalPlaylists.aspx?wID=273866&xtid=41111&loid=88030https://libraryresources.columbiasouthern.edu/login?auth=CAS&url=http://fod.infobase.com/PortalPlaylists.aspx?wID=273866&xtid=42251&loid=116112https://libraryresources.columbiasouthern.edu/login?auth=CAS&url=http://fod.infobase.com/PortalPlaylists.aspx?wID=273866&xtid=42251&loid=116112https://libraryresources.columbiasouthern.edu/login?auth=CAS&url=http://fod.infobase.com/PortalPlaylists.aspx?wID=273866&xtid=39098&loid=58240https://libraryresources.columbiasouthern.edu/login?auth=CAS&url=http://fod.infobase.com/PortalPlaylists.aspx?wID=273866&xtid=39098&loid=58240https://smartamarketing.wordpress.com/2012/04/05/pricing-strategies-and-policies/

BBA 3201, Principles of Marketing 3

UNIT x STUDY GUIDE

Title

Unit Lesson Click here to access the Unit VI Lesson presentation. (Click here to access the PDF version of this presentation.) https://online.columbiasouthern.edu/bbcswebdav/xid-78839689_1https://online.columbiasouthern.edu/bbcswebdav/xid-78839690_1

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